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Before you conclude that the moral of this story is that Canada is just lucky to have the stuff, read on. For the U.S. has vast quantities of a similar deposit called oil shale, a claylike rock soaked through with fossil fuel. In fact, at least 1 trillion bbl. of it, or four times Saudi Arabia's oil reserves, is locked up in the mountains 200 miles west of Denver. The U.S. spent billions of dollars to figure out a way to mine the stuff, then gave up and walked away. Why Canada has succeeded at creating a homemade source...
...fund industry, its trust breached, is now making all the right noises. Fink called the alleged abuses "outrageous" and urged all his group's members to review their internal procedures. Spitzer's investigation is far from over, though, and it may touch broadly an industry entrusted with $7 trillion of our retirement and other savings--a gargantuan sum that politicians will be eager to make a show of protecting...
...whereabouts of every razor blade? The Accenture consulting firm, an Auto-ID member, says such a system--Auto-ID's holy grail--could increase sales 1% to 2%, decrease inventory 10% to 30%, and reduce labor costs between 5% and 40%. Those are huge numbers in the $3.6 trillion retail industry...
Investors still stinging from last year's run of Wall Street and CEO lies now find they can't trust mutual funds either. Turns out the $6.9 trillion fund industry might be just as willing to jilt the little guy when monster fees are on the line. This revelation is a black eye for a business that so far has been largely scandal free...
LEVKOVICH: Stocks dropped more than $7.5 trillion of value...